Positioning ourselves forthefuture Group Management: Dan Stig Jensen, Christian Cornelius-Knudsen, Jørgen Jensen (President & CEO), Anders Terkildsen, Morten Johansen and Lars Gjødsbøl. Ourvisionandstrategyhasalwaysbeenclear. Wewanttobethebestatwhatwedo,andwe willofferourcustomersthebestproductsinthe industrytogetherwithlongtermpartnerships. Focus on quality and cost Wehavetakenanumberofinitiativestoensure ourcustomershighqualityproducts,andwe arecommittedtoprovidingourcustomerswith productsofthebestperformanceandquality onthemarket. Atthesametimeweunderstandtheneedto offerourhighqualityproductsatcompetitive prices.Wehave,therefore,workeddiligently overthepastfewyearstoimprovethe efficiencyofoursourcingactivitites.Weaimto increasetheproportionofcomponentssourced fromlowcostcountriesfromtodayaround 30%tomorethan50%by2012. In all significant markets Althoughthemainfocusinrecentyearshas beentoensureadequateearnings,wehave alsotakenlongterminitiatives.Theopeningof ournewsalessubsidiaryinBrazil,forexample, isinlinewithourstrategyofestablishing Nilfisk-Advanceatanearlystageinemerging markets. Weintendtoberepresentedgloballyinall significantmarkets,andouraimis,overa numberofyears,toincreasethenumberof salesentitiesfromthecurrent43,toaround50. Growth ambitions Wefocusonbothorganicandacquisitive growth.Weremaincommittedtoestablishinga solidportfolioofpotentialacquisitionstosecure ourofferingsworldwideandtoboostour productportfolio. Ourgrowthduringthecomingyearsis expectedtobesupportedbyacquisitionofboth localdealersandlargeandsmallproduct companies. The core resource Employeesarebyfarourmostvaluable resource.Wetrainandassessourmanagers throughouttheworldinclosecooperationwith theInternationalInstituteforManagement Development(IMD)inSwitzerland.Wehave alsodevelopedasetofLeadershipValueswith whichourleadersaroundtheworldmust comply. Theseleadershipdevelopmentinitiativesare intendedtoensurethatwemoveinthesame directionglobally,soourcustomerscontinueto receivethesamepositiveexperienceand professionaltreatmentwherevertheymeet Nilfisk-Advance. Quick adjustments lead the way Liketheworldeconomy,themarketfor professionalcleaningequipmenthasslowed dramaticallysince2008.Werespondedswiftly tothisnegativeeconomicdevelopmentby focusingonprotectingearningsandminimizing workingcapital.Bydoingsowepavedtheway fortheaccelerationofanumberoffutureorientedrestructuringmeasures;amongstthem thetransferofproductionfromWesternEurope toHungaryandfromtheUStoMexico. Wewillcontinuetodevelopourofferings;our products,ourservicesandourpeople.We believethatastrongNilfisk-Advanceisthebest guaranteeforensuringthatourcustomersand partnersalsoperformwell. JørgenJensen President&CEO 3
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